Category Archives: Market News

What advice do you have for Marco Island visitors who fall in love with the Island’s real estate, and seek to purchase a property this year?

Our advice is first to hire a broker that has the knowledge of the island and can showcase all of the greatness it has to offer.  There are a lot of properties out there,  Some good homes, some bad homes, and some ugly homes, and this is where you need the right guidance.  Work with a broker or agent that is going to go above and beyond for you every step of the way.  Marco Island may be small, but there are a lot of factors to consider.  It is our job as a broker to guide you to the right place.  Second, determine what you want to do with the home or condominium you buy.  Is this an investment property or a seasonal home?  Are you planning on renting it?  Choosing the right rental or property management company that is going to act like a personal concierge is what each potential buyer needs.  Last but not least find a Broker or agent that you can trust and have a long-term relationship.  We have helped buyers, buy, sell, rent, and maintain their homes for years.  We have built trust within them, and have also built friendships into the relationship’s which have lasted for years.  Here at Island Realty, we want to be your Broker, and are honored to achieve a long-term relationship with you.  Call Island Realty Today and let us showcase Marco Island personally for you.  PH# 239-821-0994

 

 

 

MARCO ISLAND OTTER MOUND PARK

Thousands of years ago, the ancient Calusa American tribe inhabited our barrier island of Marco Island. These native people used what was provided by nature to survive including shells, oysters, clams and other shellfish. As time passed, large shell mounds were created as they disposed of these items after use. Evidence of these shell mounds still exists today including a massive mound that at one time stretched a whole 80 acres!

Because of Marco Island’s unique climate and soil, many Calusa artifacts including pottery, tools and bones remained preserved in the mounds for thousands of years. As the years passed, a tropical hardwood hammock formed atop the elevated landscape and created homes for wildlife.

Many years after the Calusa disappeared a local settler named Ernest Otter established his home on top of the shell mound in the 1940s. He used many of the shells to build his home. The area now known as Otter Mound Preserve opened to the public in 2004. Now protected by Collier County, visitors are encouraged to visit the site and travel back 12,000 years in time.

The site is now just 2.45 acres but provides visitors the opportunity to stroll along a trail lined by gumbo limbos, strangler figs, and swaying palms. A few structures from Earnest Otter’s settlement remain on the site and include walls constructed of lightning whelk shells. It truly is a unique can’t-miss destination during your stay on Marco Island.

Tucked away in a luxury estate residential area on the southern tip of Marco Island, Otter Mound Preserve is located at 1831 Addison Court. There is a small three car parking lot. Parking and entry is complimentary.  The Walter Team just sold a house on 981 E. Inlet Drive near this park.  What a beautiful area.  Call The Walter Team today for all your real estate needs. 239-821-0994

 

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Marco Island Florida Real Estate Report – May 2019

Marco Island Real Estate Report – May 2019

Inventory up 4% from Last Year

The inventory of homes, lots and condos for sale on Marco Island totaled one-thousand fifty-one (1,051), up 4% from a year ago. A total of one-hundred twenty-one (121) properties sold in May, which was an increase of 2% from May last year. Total dollar volume sold was $79.7 million, which was down 13% from May a year ago. One-hundred ten (110) new listings came on the market in May, down 21% from last year.

May 2019 statistics

Homes

There were three-hundred five (305) active home listings in May, which was up 5% from May 2018. Fifty-seven (57) homes sold for $52.1 million compared to fifty-two (52) and $54.5 million last May. Sales prices ranged from $335,000 to $2.7 million. Median price of a home sold on Marco Island in May was $780,000. Thirty-seven (37) new listings came on the market in May compared to forty-two (42) last year, which is an decrease of 12%. List prices for a home on Marco Island range from $369,900 to $7.5 million.

Condos

Inventory for sale was four-hundred nine (409) condos in May 2019, up 5% from last year. Forty-six (46) condos sold for $20.6 million compared to fifty-two (52) units and $30.1 million last May. Sales prices ranged from $112,500 to $1.35 million. Median price of a condo sold on Marco Island in May was $407,500. Fifty-one (51) new listings came on the market compared to sixty-eight (68) last year, which was a decrease of 25%. List prices for a condo on the island range from $119,900 to $9.9 million.

Lots

There were three-hundred fifteen (315) lots for sale on Marco Island in May 2019, compared to three-hundred five (305) last year. Fifteen (15) lots sold for $5.9 million compared to fourteen (14) and $7.3 million last year. Sales prices ranged from $104,000 to $850,000. Median price of a lot sold on Marco Island in May was $422,500. Eighteen (18) new listings came on the market which was down 36% from last year. List prices for a lot range from $45,900 to $6.75 million.

As usual there is a wide range of properties for sale on Marco Island. Please call the Walter Team today to help you find that just right property. Ph# 239-821-0994

MARCO ISLAND REAL ESTATE INVENTORY

A LOOK AT THE MARCO ISLAND REAL ESTATE INVENTORY 

 

The inventory of homes, lots and condos for sale on Marco Island totaled 1,156, up 10 percent from a year ago. A total of 58 properties sold in February, which declined 18 percent from February last year. Total dollar volume sold was $52.1 million, which was up seven from February a year ago. One-hundred eighty-seven new listings came on the market in February, up 13 percent from last year.

 

Homes

There were 366 active home listings in February, which was up eight percent from February 2018. Twenty-six homes sold for $33.2 million compared to 31 and $25.8 million last February. Sales prices ranged from $325,000 to $5 million.

Median price of a home sold on Marco Island in February was $989,750. Seventy-two new listings came on the market in February compared to 63 last year, which is an increase of 14 percent. List prices for a home on Marco Island range from $299,900 to $7.5 million.

Condos

Inventory for sale was 435 condos in February 2019, up 16 percent from last year. Twenty-eight condos sold for $18.3 million compared to 32 units and $19.1 million last February. Sales prices ranged from $107,500 to $2.5 million.

Median price of a condo sold on Marco Island in February was $562,500. Eighty new listings came on the market compared to seventy-four (74) last year, which was an increase of eight. List prices for a condo on the island range from $102,000 to $9.9 million.

Lots

There were 336 lots for sale on Marco Island in February 2019, compared to 306 last year. Three lots sold for $404,000 compared to seven and $3.7 million last year. Sales prices ranged from $85,000 to $180,000.

Median price of a lot sold on Marco Island in February was $139,000. Thirty-three new listings came on the market which was up 32 percent from last year. List prices for a lot range from $40,000 to $5 million.

As usual there is a wide range of properties for sale on Marco Island. Call the Walter Team today to help you find that just right property.  Ph# 239-821-0994

MARCO ISLAND FLORIDA IS PARADISE

The largest of the Ten Thousand Islands, Marco Island is located just south of Naples and easily accessible with two bridges allowing vehicle traffic on and off the island. 

The island is home to some of the world’s most beautiful beaches and offers access to both the Gulf of Mexico and the mangrove-lined estuaries of the Ten Thousand Islands. More than just another pretty beach, Marco Island’s mood shifts from sophisticated resort area to historic nautical community and funky fishing village. Boating is a way of life for Marco Island residents and visitors, with many year-round and vacation homes located on the water. Bring your appetite for seafood, whether you plan to catch it on your own or at a local restaurant. For hidden gems, seek out the picturesque waterfront restaurants in the communities of Goodland and Isles of Capri. Visitors have their choice of beachfront resort hotels, several inland hotels, and many vacation rental properties and time share resorts.  But for the lucky few Marco Residents who own a piece of the picturesque paradise they call this their home.  Call the Walter Team today so you can own a piece of Paradise.  239-821-0994

MARCO ISLAND FLORIDA

On the southern most-tip of Florida’s West Coast, overlooking the Gulf of Mexico, sits the majestic and pristine sub-tropical Marco Island.

Gateway to the awesome land of Ten Thousand Islands, Marco Island is about 4 miles wide, 6 miles long, and a mere 90 miles west of Miami and 157 miles south of Tampa.

History informs us that probably around 4000 BC the Calusa Indians, who may have been the descendants of the Mayans, inhabited the island. These Native People had built large mounds using millions of shells that offered them protection from hurricanes. The mounds were also used for religious temples and burial sites.

The Calusa were crafty and intelligent woodworkers, who constructed canoes, beams and planks for their houses, docks and piers. Due to disease brought to the island by the Spanish explorers, the Calusa were wiped out by the mid 1700s, later replaced by the Seminole. Until after the Civil War, there was little population occupying southwest Florida.

In 1870, W.T. Collier brought his wife and nine children to Marco Island. His son, William D. “Captain Bill” Collier, opened a 20-room hotel in 1896 that is today known as Olde Marco Inn. In 1922 Barron G. Collier (no relation to the other Colliers) purchased most of the island.

Unfortunately, the depression took its toll and development of the island was postponed until 1962.

It was at this time, when brothers Elliott, Robert and Frank Jr. Mackell developed a master plan for the island, after purchasing it from the Collier estate for the paltry sum of seven million dollars.

Not surprising, prior to its development in the mid-1960s, the population was a mere 550, as the only way to reach the island was by crossing a narrow, wooden, hand-operated swinging bridge. A trifle frightening!

Marco Island today has a permanent population of 15, 000 swelling to 35, 000 during the winter months.

Western entrance to the Everglades, and only 30 minutes away from world-class shopping, entertainment, fine dining and the cultural scene of affluent Naples, Marco Island offers plush accommodations to the discerning visitor. Additionally Marco Island offers some of the best Real Estate options in the World.  Call the Walter Team today to view this amazing piece of Paradise that you can call home!   239-821-0994

 

MARCO ISLAND FLORIDA 34145

Located a short ride from the Florida Everglades and close to Naples, Marco Island is the largest and only developed land in Florida’s Ten Thousand Islands. This Gulf Coast retreat offers luxury resorts, beautiful beaches and unspoiled parks. The tropical climate of Marco Island is a considerable attraction to the area, with the water being the next major attraction. Collier Seminole State Park, just a few miles from Marco Island, has primitive camping, canoeing, fishing, boating, picnic grounds, and a mile-long nature walk. Narrated boat tours of the park run on a daily basis. Briggs Nature Center features a half-mile boardwalk where Marco Island visitors can observe wildlife in its natural habitat. Also available: shelling excursions and self-guided canoe trips.  CALL THE WALTER TEAM TODAY TO VIEW PROPERTIES ON BEAUTIFUL SUNNY MARCO ISLAND. 239-821-0994

MARCO ISLAND’S BEAUTIFUL CRESCENT BEACH

Crescent beach is a 6 miles long public beach that lines the entire west coast of Marco Island and has 4 public access points which are Tigertail Beach, north property line of the Marriott Hotel and Spa, along south property line of the Marriott Crystal Shores and South Beach which is just south of the Apollo condo.  Only Tigertail and South Beach have public parking available. This link leads to a Google Map showing the access points  http://tinyurl.com/MarcoBeach

Since Crescent Beach is so long different areas of the beach have been given various names.   Starting at the North end and going South is Hideaway Beach, Tigertail Beach, Residents’ Beach, and South Beach.  ( Residents’ Beach access point is restricted to those with a permit but you can walk to  the Resident’s Beach shore line from Tigertail beach or from all points form the south) Likewise,  Hideaway beach is North of Tigertail park and is only accessible by the public by walking the waterline North.   It has no facilities and is lined along the backside by a gated community also named Hideaway Beach. 

Crescent Beach has dolphins, manatees, shore birds and great sunsets!

Restaurants and bars are available from some of the hotels and condos that line the back of the beach.  The Marriott, the Marriott Crystal Shores, and the Apollo have very nice restaurants and bars.   

 Water sporting equipment, waverunners, small sail boats, and the like are available at Tigertail,  the Marriott, and the Hilton.   

Marco Island is the largest island in  the chain of 10,000 Islands, the gateway to the Everglades, and the southernmost beach accessible by car  in SW Florida on the Gulf of Mexico.    CALL THE WALTER TEAM TODAY TO VIEW CONDOS ON MARCO ISLAND’S CRESCENT BEACH!  239-821-0994  

Home shoppers Optimistic but do they expect a recession?

SANTA CLARA, Calif. – April 3, 2019 – Nearly 70 percent of home shoppers this spring think the U.S. will enter a recession in the next three years, but that hasn’t stopped them from trying to close on a home, according to new survey data released by realtor.com. Even though they expect another recession, they don’t believe it will be as bad as the 2008 one.

Overall, nearly 30 percent of 1,015 active home shoppers surveyed expect the next recession to begin sometime in 2020; 12 percent expect sometime in 2019; 16 percent expect sometime in 2021; and 12 percent expect 2022.

Nearly 10 percent don’t expect a recession until 2024 or later, and another 21 percent said they didn’t know. The online survey was conducted earlier this month with Toluna Research.

According to the survey, even though 63 percent of shoppers report that home prices are increasing compared to last year, 56 percent of shoppers believe home prices have hit their peak.

The feeling that home prices have topped out could be a reflection of shopper beliefs that a recession is in the not too distant future. In fact, those expecting the recession sooner were more likely to report that home prices had peaked, says Danielle Hale, realtor.com‘s chief economist.

“The U.S. economy has been on a hot streak for the last seven years, producing steady economic growth and low unemployment rates. Historically, this type of growth hasn’t continued indefinitely, and U.S. home shoppers think it will come to an end sooner rather than later,” says Hale.

When asked if the U.S. housing market would fare better or worse than the 2008 economic recession, 41 percent responded with better; 36 expect it would be worse; 23 percent expect it to be the same.

The fact that some home shoppers expect the next recession to be harder on housing than the last recession suggests that they are buying homes with eyes wide-open and very sober, Hale says. This buyer outlook stands in stark contrast to the years leading up to the last recession when “irrational exuberance” about the market’s future was more common. It’s also another reason to expect the next downturn to be very different for housing than the last one.

“When the U.S. enters its next recession, it is unlikely that the housing market will see a sharp nationwide downturn. The same record low inventory levels that have made buying a home so difficult recently will likely protect home prices in the next recession,” Hale adds.

According to the survey, 45 percent of home shoppers feel at least slightly more optimistic about homeownership after the 2008 recession. Less than one in four – 22 percent – feel at least slightly more pessimistic about homeownership, while 33 percent reported no impact on their feelings about homeownership.

The duration of the recovery from the last recession could explain the optimism reported by some buyers. Since 2010, home prices across the U.S. have grown by 49 percent, the U.S. economy has grown by $3 trillion and 18.7 million more jobs have been created. This persistent optimism toward homeownership is likely a key reason that home shoppers are confident and looking to buy, even as they expect a recession to be approaching.

CALL THE WALTER TEAM TODAY TO DISCUSS YOUR HOME SHOPPING IDEAS. 239-821-0994